Remote working is wreaking havoc on HSBC’s largest office building in London

HSBC Bank He will leave his headquartersIn the business park Canary Wharf From London to move to offices smallest In the city’s historic financial district. Although it is the largest banking entity in Europe in terms of assets,… The rise of remote work The aftermath of the epidemic has created the Great Tower 45 floors and 200 meters The tall one designed by Norman Foster is too big for the international company, according to Bloomberg.

The tower is The third largest building From the UK and homes up to 8000 workers. Since its opening in 2002, HSBC’s office space has undergone many changes The owner changesincluding a brief period between 2007 and 2008 when it was owned by a company Spanish Metrofacisauntil needed Debt restructuring Spanish real estate company caused The bank will repurchase building.

Finally, the tower was acquired in 2014 by Qatar Investment AuthorityThe sovereign investment fund of the Arab state. beginning From 2027When the bank abandons its offices, the Qatari Fund will have to decide what to do with the empty building, in a context that is witnessing increasing… More owners They face a Low demand Workspaces like this, thanks to the implementation Hybrid work arrangements In person and remotely in several companies.

Demand for offices is falling

Complications for Sell ​​or rent Office buildings prompted their owners to consider an option Demolish them to convert them In facilities for other uses, such as apartment complexes, or even Trade with land After demolition. New York City Hall, for example, Zoning rules that have recently changed In effect to be able to implement projects like this in Manhattan.

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The increasing amount of Empty office spaces It could be a solution to Housing crisis Which many modern cities suffer from due to high prices and Shortage of supply. But demolishing and rebuilding buildings of this size is not only the case It’s too expensiveBut it is emitted High amounts of carbon. Therefore, the authorities advise Reuse of buildings Existing projects and converting them, through small businesses, into residential spaces.

Examples of this type of reconversion – as Bloomberg mentions – are, among others, Walker Tower Building In New York, an old telephone building whose high ceilings and large windows were used to build “loft” apartments, or… Parker Tower and Lyon Houselocated in the capital of the United Kingdom itself.

On the other hand, Robert Sloss, CEO of HUB, warns Bloomberg against this option It is not viable For all buildings, since factors e.g Ventilation systems Plants for whole plants or Full glass facades Heat can accumulate in the summer Create difficulties When converting office towers into residential apartments.

Experts warn that not all office buildings can be converted into homes for purchase or rent

The height of a building like HSBC Bank, says Ben Clifford, associate professor at University College London It doesn’t have to be a challenge. When it comes to converting it, however, the width may make the process difficult. It is being designed to house offices Open planDividing it into apartments would make it impossible Natural light shines every one of them.

To overcome these problems, many architects have proposed innovative solutionsHow it arises Interior courtyards To illuminate the residential building or create corridors that serve as Gardens in winter Next to the windows, taking advantage of the accumulated heat. However, some of these works can be It ends up being very expensive.

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finally, localization This can also be an issue when renting or selling converted offices, as there are many such buildings In financial areasFar from residential activity centers. For this reason, some real estate companies suggest that the best option for the HSBC Tower is to choose to enable the building. Like laboratories Or mixed spaces

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